MADISON, Wis. — Summit Credit Union said it has joined the Global Alliance for Banking on Values organization, an international network of financial services leaders “dedicated to global values-based banking.”
Founded after the 2008 financial downturn, the 70-member alliance provides a collaborative network for bank leaders in 45 countries looking for strong bottom lines while also addressing climate issues, racial justice, and economic equality, Summit stated.
Summit CU said GABV’s mission supports its belief that banks are not simply intermediaries of money “but rather critical agents of change. It points to research that values-based banking also delivers better and more stable returns for the industry.”
“Summit is a values-based organization and the GABV mission is an excellent fit for us in moving financial and environmental sustainability forward,” said Summit CU President and CEO Kim Sponem. “We look forward to contributing to the global community of values-based banking for the good of our members and our community,” said Kim Sponem, Summit Credit Union’s CEO and President.
Invitation-Only Event
According to the $6.4-billion Summit, the invitation-only GABV annual meeting in New York City entitled “Banking on a Bolder Future” highlighted the “impact that values-based banks have played and the growing importance of mission-aligned institutions in the banking space and beyond.”
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